Automaker Mahindra & Mahindra (M&M) Ltd on Monday (March 11) released its production and sales figures for February compared to the same period last year.
According to the latest business update, the company's production surged by 26.1%, reaching 73,380 units compared to 58,203 units produced in February last year.
Similarly, sales figures also witnessed a rise, with a 26.2% increase recorded at 71,384 units compared to 56,551 units in the corresponding period last year, Mahindra & Mahindra said in a regulatory filing.
However, the company experienced a decline in exports, with numbers dropping by 31.6% to 1,539 units compared to 2,250 units exported in February of the previous year.
Mahindra & Mahindra reported strong double-digit growth in earnings for the third quarter ended December 2023, aided by robust performance of the automotive segment and strong operating performance. M&M's net profit for Q3 surged 61% year-on-year (YoY) to ₹2,454 crore, compared to ₹1,528 crore in the year-ago period.
The company's revenue increased 17% YoY to ₹25,289 crore against ₹21,653 crore in the corresponding quarter of last year. However, its revenue was below CNBC-TV18's estimate of ₹25,400 crore. Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation or EBITDA, rose 15% YoY to ₹3,237 crore. The EBITDA margin stood at 12.8%.
Shares of Mahindra and Mahindra Ltd ended at ₹1,890.60, down by ₹5.65, or 0.30%, on the BSE.
